In-School Loan Program

Any questions? Please call 860-520-4001

Current Loan Rates

Annual Percentage Rate (which accounts for a 3% reserve fee) ranges from 5.33% to 5.45% over the life of the loan

Low monthly payments of $4.13 per $1,000 borrowed during the in-school and 6-month grace period, and $9.42 per $1,000 borrowed during the 140-month repayment term for principal and interest

Loan Features & Terms

Fixed interest rate loans made payable directly to the institution

No application fee

No application deadline

Loans from $2,000 up to the total cost of education per academic year (less any other financial aid received), to a cumulative maximum total of $125,000

Loans for either current or prior year's educational expenses

Principal and interest payments over an extended 140-month repayment term after the grace period ends

Fees limited to a 3% reserve fee, deducted from the loan prior to disbursement

No prepayment fee

Borrower death forgiveness

Borrower total and permanent disability forgiveness

Co-borrower release feature for loans disbursed on or after June 23, 2014

Undergraduate Students: Interest-only payments are required while student is in school and for a 6-month grace period after student leaves school. Loans originated through June 2016 can stay in interest-only up to a five-year maximum. Loans originated after June 2016 can stay in interest-only up to an eight-year maximum.

Graduate and Professional Students: May defer interest while in school and for a 6-month grace period (interest is capitalized annually)